The cryptocurrency foreign exchange market has recovered after mid-week sales. With a total value of $ 1.2 trillion, it is now about $ 1.38 trillion. This represents an increase of almost 15% in a few days, and certain altcoins (ETH, DOGE, XLM) lead to charging. With most major cryptocurrencies recovering healthily, it looks like there may be a strong weekend in the market. As such, we have selected the top five encryption currencies you can buy for the weekend rally. This mostly covers coins that have a good chance of a short-term rally.
The top five cryptocurrencies for the weekend rally
1. Axie Infinity (AXS)
Axie infinity (AXS) is one of the few biggest coins that is currently thriving steadily. In fact, it broke its all-time record just a few hours before writing and was $ 32.19. Since then, it has dropped back to $ 30.78. However, even this price represents a 30% increase over the last 24 hours as well as a 30% increase last week. Even more impressive, it has risen 150% in the last two weeks and 850% in the last month.
Needless to say, this makes AXS the most successful coin of the last month. And there’s a good chance its rally could continue over the weekend and beyond. For those who don’t know it, it’s a domain name distributed Axie Infinity online game. It allows holders to vote on game changes, trade game creatures, and be committed to earning rewards.
Earlier this month, game makers revealed that it had surpassed 350,000 active users every day. It had only 100,000 at the beginning of June, which shows how fast it is growing.
– Axie Infinity (@AxieInfinity) July 5, 2021
2. Bitcoin (BTC)
Bitcoin (BTC) has dropped to a seven-day low of $ 29,500 on Tuesday. has risen to just over $ 32,500. This is a 10 percent increase in three days. While this isn’t as bouncing as some altcoins, Bitcoin also doesn’t count as hard. This makes it a safer bet than many other cryptocurrencies, although it still offers a significant increase.
Bitcoin has risen 2.5% in the last seven days. On the other hand, it has fallen by 1% in the last two weeks and steady over the last 30 days. It is also 50% below the all-time high of $ 64,804.
While these percentages are not high, the simple fact is that if a rally is held this weekend, Bitcoin will participate. It almost always leads to the rise (and fall) of the market when other markets don’t seem to be able to do anything about BTC doing it first.
In addition, the prevailing opinion of analysts is that Bitcoin is undervalued. A a recent study of researchers and industry figures found that 61% of experts believe it is currently underpriced. It also reached an average year-end price forecast of just over $ 66,000.
Price models are even more bullish than this, and the stock flow and 11-year exponential trend suggest both closing prices will exceed $ 100,000 by 2021. as it is likely due to a large increase at some point.
3. Ethereum (ETH)
Ethereum (ETH) has had a very good rebound. $ 2,000, it has risen 17% since it dropped to $ 1,700 on Tuesday. It has also risen nearly 2% in the last 24 hours, 7.5% in the last week and 9.5% in the last 30 days. It said it has dropped 52.8% from an all-time high of $ 4,356.
Ethereum is the fifteenth most successful coin in the top 50 in the last 30 days. Despite the fact that it is not one of the best performers, there is a good chance to rally greatly even in the too distant future. It will implement the long-awaited update EIP-1559 August 4. The aim is to make Ethereum’s reward system fair and efficient while also triggering the burning of part of the rewards. The latter change may potentially weigh on ETH’s supply, making it more valuable (assuming demand is equal or increased).
At the same time, the gradual and phased implementation of Ethereum 2.0 will continue. Deposits for the Ethereum 2.0 smart contract continue to grow steadily, hit 6.38 million ETH and further reduces circulating feed. Although the exact date of the public release is not yet known, the completion of EIB-1559 should allow Ethereum’s development community to focus its efforts on making it available.
Needless to say, the investment will significantly increase the demand for ETH while reducing supply.
4. Dogecoin (DOGE)
Dogecoin (DOGE) is another ardent restorer. It jumped 18.6% between its seven-day low of $ 0.162516 and the current $ 0.192828. It has also risen 5.5% last week. It said it is still a strong 73% below its all-time high of $ 0.731578.
DOGE often tends to recover strongly after a fall, as the diagram above illustrates. It also expects a couple of big updates early next month. To the first are added SegWit and Check Sequence Verify (CSV), which improve scalability in different ways. The second update reduces transaction fees, making DOGE a more useful transaction tool.
This is likely to increase demand for dogecin. And we can also expect the market to price the value of these changes in the coming weeks.
There is also the Dogecoin community, which is large enough to cause individual waves. The same goes for song Dogecoin supporter Elon Musk, who helped push DOGE up this week by updating his Twitter profile picture to include ‘Dogecoin Eyes’.
4. Polkadot (DOT)
Polkadot (DOT) has risen 23% since its seven-day low of $ 10.62. That’s now $ 13.14, up 5.8 percent from last week. However, it has fallen 14% in the last two weeks and 10% in the last month. It’s also 73% below its all-time high of $ 49.35.
However, the weak recent performance of the DOT is setting it up sharply. It has also performed relatively well in the recent bear market (compared to certain other coins) its role as a certificate coin by attracting institutional investors.
It is also running skydiving. These are basically side chains that connect to the Polkadot main chain. This allows the Polkadot platform to host a variety of applications. This, in turn, increases the demand for DOT, which is used to create parachutes (and which is also a domain name).
The launch of Polkadot’s parachutes is expected to begin when two things have happened:
1. A full external audit has been completed.
2. @suomimeemi conduct at least one successful auction involving a number of items and with at least one functional parachute.
Read more @gavofyork: https://t.co/m03AFJueXR
– Polkadot (@Polkadot) May 17, 2021